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Posts Tagged ‘ Naspers ’

Flipkart suffers another markdown as Vanguard slashes stake value by 33%

Friday, December 2, 2016 | More »

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A mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in Flipkart by 33%, joining another investor Morgan Stanley in cutting India’s largest e-commerce marketplace’s valuation to historically low figures. The fresh markdown by Vanguard values Fli...

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Flipkart’s valuation down to $5.57 bn after Morgan Stanley slashes value of its holding

A mutual fund managed by Morgan Stanley has marked down the value of its shares in Flipkart by 38.2% leaving India’s largest e-commerce marketplace’s valuation at $5.57 billion, nearly a third of its peak valuation of $15.2 billion last year. The fund has slashed the value of its Flipkart shares...

29 November, 2016 | More »

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PayU India names Maneesh Goel as CFO

Naspers-backed PayU India has appointed former CEO of Den Snapdeal TV-Shop Maneesh Goel as chief financial officer, it said in a statement. Previously, Goel has also served a CFO of iDiscoveri Education Pvt Ltd and Getit Infoservices Pvt Ltd (Askme.com). “His expertise in strategic planning, worki...

26 November, 2016 | More »

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Flipkart’s loss doubles in FY2015-16

The net loss of Flipkart Internet Pvt. Ltd, which operates e-commerce major Flipkart, doubled to Rs 2,306 crore in the financial year ended 31 March 2016, compared with Rs 1,096 crore in the year-ago period, according to filings with the Registrar of Companies. The company’s revenues rose to Rs 1,...

26 November, 2016 | More »

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PayU’s finance head Gurpreet Singh quits

Naspers-backed PayU Payments Pvt. Ltd has seen another top level exit with the resignation of its finance head. Gurpreet Singh, vice president and head of finance at PayU India, has quit the digital payments firm to join HCL Technologies. While confirming the development to Techcircle.in, Singh said...

27 October, 2016 | More »

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Online travel portals MakeMyTrip and ibibo to merge

In the biggest consolidation move in the online travel agency (OTA) space in India, NASDAQ-listed MakeMyTrip Ltd has agreed to buy ibibo Group, which is co-owned by South African technology group Naspers Ltd and Chinese investment firm Tencent, in a stock deal. Naspers and Tencent, which own 91% and...

18 October, 2016 | More »

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Goibibo launches live tracking service for domestic, international flights

Online travel agency Goibibo.com, which is a part of South African digital media firm Naspers, has introduced the feature of live flight tracking for 1,824 daily flight schedules, including both domestic and international flights. “Flight tracking and status information is first of its kind. This ...

12 October, 2016 | More »

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Flipkart gets a valuation boost from Fidelity

After a string of six successive markdowns, Indian e-commerce giant Flipkart has received a welcome break from American mutual fund company Fidelity Investments. The US-based company’s Fidelity Rutland Square Trust II fund has hiked the value of its shares in the company. According to filings with...

28 July, 2016 | More »

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Exclusive: Naspers floats Stradia through OLX to re-enter Indian online used car space

Less than two years after selling second-hand cars business Gaadi.com to Google Capital-backed CarDekho, South African internet and digital media firm Naspers has re-entered the used car business in the country. It has floated Stradia.in under its multi-country classifieds venture OLX. The move seem...

23 July, 2016 | More »

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Goibibo rolls out travel-based social network

Online travel agency (OTA) Goibibo.com, part of South African digital media firm Naspers, has rolled out a travel social network on its mobile app titled, ‘GoContacts’ which enables users to get connected on Goibibo app using their phone books. “By launching GoContacts, we are further strength...

20 June, 2016 | More »

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